Which Direction Will This Tech Stock Break?

Our stock today popped above a key resistance level, which means higher prices should come, as long as breakout level holds and the market continues its march upward. After selling off over night due to some lack luster earnings reports, that uptrend may be in jeopardy, at least in the short term.

As for our stock, Okta Inc. (OKTA), I have marked the level to watch in the video below. This is the level traders will want to have on watch as the dust settles on the market. While the market could very well cause this stock to sink, if the rally continues then any pullback may just be a retest of the resistance level, which should then act as a support level.

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Good Luck!

Christian Tharp, CMT

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